Natural gas prices
September natural gas (UNG) (BOIL) futures contracts trading in NYMEX fell 0.2% to $2.92 per MMBtu (million British thermal units) in electronic trading at 2:00 AM EST on August 18, 2017. Natural gas prices are near four-week highs.
Temperatures were almost normal to average in the lower 48 states of the US on August 4–11, 2017. The eastern parts of the Rockies experienced cooler-than-normal temperatures during this period.
The latest weather reports forecast warmer-than-normal temperatures in the northern and central parts of the US on August 17–23, 2017.
The Midwest and northeastern parts of the country could experience cool temperatures in the next week. Overall, the US weather is expected to be warm for the next ten days. More than 50% of US households use natural gas for heating and cooling. Warm temperatures could drive natural gas demand higher in the next ten days. An expectation of higher demand could support US natural gas (UNG) (GASL) (FCG) prices. Higher natural gas prices have a positive impact on natural gas producers like Gulfport Energy (GPOR), Southwestern Energy (SWN), and WPX Energy (WPX).
Changes in the weather and demand influence US natural gas inventories.